East Asia Minerals Announces Private Placement
East Asia Minerals Corporation
Corporate Office:
905 West Pender Street, Suite 210
Vancouver, BC Canada V6C 1L6
T +1-604-684-2183
F +1-604-357-1987
www.eastasiaminerals.com
News Release
East Asia Minerals Announces Private Placement
April 29, 2019 Symbol: EAS
Vancouver, British Columbia - East Asia Minerals Corporation (the “Company”) (EAS:TSX.V,
EAIAF:OTCBB) announces a private placement of up to $250,000 consisting of 4,166,667
units (the “Units”) at $0.06 per Unit (the “Offering”) where each Unit consists of one
common share in the capital of the Company (a “Share”) and one share purchase warrant
(each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase one
additional common share in the capital of the Company (a “Warrant Share”) at a price of
$0.12 per Warrant Share for a period of 2 years from the closing of the Offering.
The net proceeds of the Offering after payment of commissions will be used by the
Company for working capital expenditures related to acquiring the production licence for
the Sangihe Project during the final stages of closing the credit facility loan of up to
USD5,000,000 announced on March 1, 2019.
Sangihe Project
The Sangihe gold-copper project is located on the island of Sangihe off the northern coast
of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of
114,700 indicated and 105,000 inferred ounces of Gold. The Company’s 70-percent
interest in the Sangihe-mineral-tenement contract of work (“CoW”) is held through PT
Tambang Mas Sangihe (PTTMS). The remaining 30-percent interest in PTTMS is held by
three unaffiliated Indonesian corporations. The term of the Sangihe CoW agreement is for
30 years upon commencement of the production phase of the project.
On behalf of the Board of Directors of East Asia Minerals,
Terry Filbert,
Chairman & CEO
For further information, contact Mark Sommer at #604-684-2183
[email protected] or visit the Company's website at www.eastasiaminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within
the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to,
statements or information concerning future work programs, results and timing of any work programs, the Company’s
performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations
and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other
factors which may cause actual results, performance or events to be materially different from those expressed or implied by
such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of
mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our
expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates,
refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration
risks and production and economic risks related to design and engineering, manufacturing, technological processes and test
procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and
maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a
detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice
before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking
statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any
forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
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